What Do College Students Spend Their Money On?

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Quick Answer

According to Nationwide Insurance, college students spend the largest part of their money on discretionary expenses (46 percent), followed by room and board (26 percent), tuition and fees (19 percent), and miscellaneous other expenses (12 percent).

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Although tuition, fees and room and board consume a sizable portion of the average college student’s budget, there are many other products on which consume a large portion of a student's budget. College students spend a lot on food. Many students pay for a university meal plan, whereas others choose to cook for themselves, eat out or only eat some meals on campus. Along with food comes drink, which for many university students includes costly alcoholic beverages. Depending on the social habits of a student, alcohol can become a large expense.

Some students pay for transportation in the form of bus or train tickets or gas for cars. Students often pay the bills for textbooks or other school supplies, and for electronics, such as laptops, tablets, and smart phones. In a addition to electronics, the software that students need for certain classes also costs a considerable amount of money.

After all of those expenses, entertainment can consume a large portion of a student's budget. This can include movie tickets, music purchases, tickets to cultural events and more.